Western Asset Investment Grade Income Fund (NYSE:PAI) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Western Asset Investment Grade Income Fund Inc. (NYSE:PAI) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.62 and traded as low as $12.60. Western Asset Investment Grade Income Fund shares last traded at $12.67, with a volume of 10,441 shares trading hands.

Western Asset Investment Grade Income Fund Trading Up 0.6%

The firm’s fifty day moving average price is $12.49 and its two-hundred day moving average price is $12.62.

Western Asset Investment Grade Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be paid a $0.0525 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Friday, February 20th.

Institutional Investors Weigh In On Western Asset Investment Grade Income Fund

Large investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Western Asset Investment Grade Income Fund by 13.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 223,849 shares of the financial services provider’s stock worth $2,794,000 after purchasing an additional 25,947 shares during the period. Jones Financial Companies Lllp increased its holdings in Western Asset Investment Grade Income Fund by 6.4% during the third quarter. Jones Financial Companies Lllp now owns 187,621 shares of the financial services provider’s stock valued at $2,387,000 after buying an additional 11,267 shares during the last quarter. Fiera Capital Corp raised its position in Western Asset Investment Grade Income Fund by 8.9% in the third quarter. Fiera Capital Corp now owns 92,491 shares of the financial services provider’s stock worth $1,186,000 after acquiring an additional 7,530 shares during the period. Shaker Financial Services LLC increased its stake in shares of Western Asset Investment Grade Income Fund by 413.8% in the 3rd quarter. Shaker Financial Services LLC now owns 57,081 shares of the financial services provider’s stock worth $735,000 after purchasing an additional 45,971 shares in the last quarter. Finally, Aviance Capital Partners LLC increased its position in Western Asset Investment Grade Income Fund by 6.0% in the third quarter. Aviance Capital Partners LLC now owns 36,633 shares of the financial services provider’s stock worth $470,000 after buying an additional 2,082 shares in the last quarter. 18.99% of the stock is currently owned by institutional investors.

About Western Asset Investment Grade Income Fund

Western Asset Investment Grade Income Fund (NYSE: PAI) is a diversified, closed-end management investment company that seeks to provide high current income with a secondary objective of capital preservation. Established in 2005, the fund invests primarily in investment-grade debt securities issued by governments, government agencies, corporate issuers and securitized products. It employs both traditional fixed-income strategies and opportunistic positions to enhance its income profile.

The fund’s portfolio is broadly diversified across sectors and credit profiles, focusing on bonds rated investment-grade by major credit rating agencies.